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with eucalyptus trees. long paths allow you to meander, perfect for dog walking in a wooded environment. >> i enjoy this base and the history behind it. the diversity that exists in such an urban city, the concrete, the streets, cars, we have this oasis of a natural environment. it reminds us of what san francisco initially was. >> this is a section for dogs and plenty of parking. transit is available to get you there easily. and the part is ada -- park is ada accessible. there is also a natural lake. this is your chance to stroll and let the kids run free. it also has many birds to watch. it is the place to find some solitude from the city and appreciate what you share with a wonderful breath of fresh air. , an experienced this park and enjoy the peoples, picnics, and sunshine. this is a lovely place to take a stroll with your loved one hand in hand. located in the middle of pacific heights on top of a hill, lafayette park offers a great square a of a peaceful beauty. large trees border greenery. it features tables and benches, a playground, restaurants, and tennis courts. there are plenty
studying the b.p. case and the relationship between business and the environment. how important is today's set element -- settlement. >> this is the biggest story.no. we have more dollars at stake. >> in terms of how importantthil us a little more. it's a record settlement. but it does encompass quite a few different features. in addition to the felony charges there is the fec investigation and the resolution of that matter and that is a big deal. >> darren is saying it's notove. the government is bringing gross negligence charges against bp. bp is going to fight it vigorously how is that going to play out? >> it's difficult for them toave standard when they admitted to the felony charges. when it's related to the environment. it's some $20 billion this is a big story but it's an even bigger story ahead. >> there have been so many fines there a silver lining to all of this? does this make the deep water drilling safer going into the future? >> well it's certainly a goodstr investors and the shareholders will see the company in a greater light. brrchltbut unfortunately we aret going to se
politically than it was a year ago, four years ago. the environment will dictate a lot of how much latitude both sides have. first, the american people are fed up with congress and with politics. they want our leaders to bring some consensus to solving problems. also, because barack obama will not stand for reelection again, at least he says he won't, that takes the political tension out of this to some extent. there is always political tension. but that gives republicans more latitude to bringing accommodation to finding a solution. >> everyone is talking about finding a compromise. but let's face it, there are fewer liberal republicans, fewer democrats on capitol hill. fewer people like yourself who have worked on both sides. the politics is a point is that the moment. >> it is. and that is expected after a hard-fought, tough, bitter election, as much as any as i have seen. you'll have to let that drain out. but you do not need everybody to make a deal. you need 60 out of 100. and you need a majority in the house. you concentrate on the center- left, center-right group. everybody will hav
in international environments to help promote humanitarian missions. fleet week got involved with a humanitarian mission back in october in the earthquake in van, turkey. there's a heavy kurdish in san francisco and the ... better recover from their event and how to better prepare in the future from the katz traufk event that had taken place would not occur. we got a phone call at the fleet week association to ask if we could help bring together some resources and leet a fact-finding mission and we did that. one of our panelists is up here, second from your left, rob dudgeon, he's with the department of emergency management and he's the director of emergency services. rob's organization has been instrumental in creating the program that we have from back in 2010 all the way through to today and i know in the future we're already talking about putting together a hot wash of everything we've learned through 2012's fleet week. so rob is going to talk about the van, turkey mission. from turkey we have rear admiral guereva he has more than 14 years sea-going experience serving across various frig
, in this environment, you know, with things like sandy going on and things would be for casting job growth and hiring people, but instead they're laying off people and yet a long list of companies on that and the reason is, they see a sour economy. >> why do they see a sour economy? >> government is growing bigger and stephan, about 24%, study after study has shown, as government takes over a bigger percentage of gdp, it surely will, faster than perceived or forecast at gdp growth, it crowd out private investor and growth period in the economy, slower growth means fewer jobs, that's why you see the list we had at the beginning and why the list ll grow longer as the weeks unfold. >> okay, tobin, the next four years, bigge government, what's it mean for the unemployment rate? >> well, brenda, you ow, that if bigger government meant for more employment, california and france would have the most vital economies in the world. i've been in a lot of different parts of the country speaking with small business people and you know, my conference of course, drew millions. the exciting one that they couldn't get
, and confucius sort of emerged in this environment and said, this can't be right. and it was a combination of let's go back to the origins and understand where we came from, this instinct to go back to how did all this begin and then also to sort of develop a kind of a provision for how to order cefully re rationally, and of course confucius and taoism have radically different solutions. out of this original concept of sensing the oneness of human beings with each other and with nature the confucians came out in believing we need a government, we need an ordering of society, we need a benevolent but vertical set of relationships. whereas the taoists sort of emerged from this experience said, "that's part of the problem, in fact." human beings are trying to fix it and nature doesn't get fixed. you let nature be and if we're a part of nature, in a sense they became anarchists and the logical conclusion from the taoists is to go off into the woods and be by themselves. but in a sense nothing is - it's not a sort of like a confession where i'm a confucianist and i'm a taoists. there's a saying that,
into industrial policy, but certainly to provide an environment which business can operate profitably with certainty, with predictability and with the flexibility it needs and then try to attract the industries of the future. that is, you know, it may sound like a pat set of prescriptions, but it's the best idea we have. i don't know, as i said, if we have the national will to implement it. and even if we did, it's a long, long, slow process. but i don't see the alternative. i don't think closing our borders is an alternative, i don't think mandating wages that are uncompetitive is a solution. i don't have a better idea. >> heidi, a better idea or do you want to endorse steve's -- >> where you started which was with the foreign direct investment and what we should be looking to do is try to attract further foreign direct investment. foreign-owned companies already provide about five million jobs in the u.s., and they tend to, your story aside, tend to be fairly high-paying jobs, relatively high-paying jobs. today tend to be more weighted towards the manufacturing sector, and so to the
to address what needs to be done in that environment. none of that is done without our dependence and involvement in the cyber war. technology drives everything we do. the internet has made is more connected than at any other time. the vast majority of our infrastructure reside in private sector. let me repeat that. the vast majority of our infrastructure reside in the private sector. the national security risks and the economic risks are still with the private sector. the government does not do it alone. they do it in concert with our partners and our partners are the private sector. for those of you were talking to earlier, with the work for the government or the private sector, you can contribute no matter where you are in whatever your professional desire is. this private-sector holds a lot of data and these are pretty profound -- their protection of the priorities is he has a list of priorities. this is the top five. the cyber threat is among the most serious challenges we face as a nation, and america's prosperity will depend on cyber security. the united states does have a
, and they wanted to do business with you, partner with you, create an environment that makes it possible to invest. we know we need this. the plan, itself, is governed by a certain set of economic lodgic and rationality. here are two different interesting realities. the economic imperatives seem to be understood by the imperative, and they have a public to respond to. it's not just the egypt of mubarak where you discount the public. it seems to affect their thinking. that has implications for what the administration will do. it means that if we stand by certain principles, which, in my mind, reflect practicalities, that we have an ability to affect their behavior. what's it mean in terms of principles? well, first and foremost, republic minority rights. that's at principle for us and practicality for them. if you see large numbers of the coptic christians leaving egypt, that's not exactly a source of encouragement for people on the outside to invest. if they exclude half the population, 56% of egyptian women who are illiterate, you look at the draft constitution, and there's language in there abou
subsidizing a technology that destroys the environment in the name of saving the environment. for example, for the same -- it would take a row of 50 wind turbines from the appalachian trail to maine, that's 178 miles, to produce the same amount of electricity that four nuclear reactors would produce. the best way, mr. president, to produce cheap, clean energy in the united states is to let the marketplace do it, let the marketplace do it, not to subsidize jobs for technology that can stand on its own and produces only a small amount of unreliable electricity. so, mr. president, let's use this week to celebrate but let's celebrate the end of the temporary 21-year-old wind production tax credit and use the $12.1 billion saved to reduce the federal debt. thank you, mr. president. i yield the floor. a senator: mr. president? the presiding officer: the senator from louisiana. ms. landrieu: thank you, mr. president. i have come to the floor to speak just briefly about a very exciting opportunity and occurrence that we celebrate and honor every november, and that is the opportunity to adopt chil
do well in a fiscal cliff environment. i'm not in these stocks just for the dividend. in a slow down, you want to own these drug stocks. i'm not worried about the competition. they all have lots of irons in the fire. ely lily always looks like it's breaking down. that's when you have to buy it. mid-40s, you really have to pull the trigger. please, don't panic. fiscal cliff is now top of the mine. we don't believe that people can rise above and, for broker, it's just too easy a call to say, hey, take some profits and move on. we'll be right back. >> announcer: coming up, new priorities. >> bring ourselves from foreign oil. we've got more work to do. >> announcer: america's energy debate isn't stopping post-election. it's just heating up. will the desire for independence push energy service stocks like clean harbors higher, or it could crack down on fracking extinguish their flame? cramer finds out when he talks to the c.e.o. next. and, later, the election correction? the market obliterated anything romney today. cramer is rummaging through the romney rubble to find you diamonds in the
heidi, the environment clearly a global challenge, clearly a part of the foreign policy. how does it fit into the economic statecraft? >> it fits into a lot of different things the state department is working on. what we as a relatively new office of seven months and only a few people have been working on are much more than the sort of geographic priorities that the secretary has highlighted, so i probably wouldn't be the best person to speak to this department with a whole host of environmental issues. a lot more time on the year autozone and the relationship and then there's a little bit of a list from the economic analysis perspective that we tend to spend most of our time on. >> all of the subjects but maybe everybody else would like a chance to do that, too. questions? i think there is a microphone here. is there another mic? going once -- if people don't have questions i will ask them. okay. >> the council of the land that. one of the things that we observed both in the atlanta environment and looking at the global companies that has to do with our competitive edge advantage in col
environment will remain unfavorable. in addition, the committee believes that the effective supply capacity of the economy is likely to continue to grow slowly over the forecast period. in october, cpi inflation picked up to 2.7%, partly as a result of higher university tuition fees. the committee's best collective judgment of the outlook for cpi inflation is summarized in chart 3 on page 8 of the report and is based on the same assumptions about monetary policy as chart 1. inflation is likely to remain above target for the first part of the forecast period and is higher than in august reflecting recent outturns and the announcement of large increases in household energy prices. further declines in inflation not being checked by price increases in sectors where market influences are weak. the rising student tuition fees alone added over not .3 percentage points to yesterday's inflation figure and do pestic gas and electricity prices are raising faster than wholesale energy prices. such factors are pushing inflation -- >> the point mervyn king is making there that part of the reason inflatio
be thriving in an environment where lots of people are worried about their taxes going up year end and the fiscal cliff is starting to get top of mind. you have a stock like walmart which has been a juggernaut, going up in a straight line since april until the recent pullback. then there is a company like -- sell, sell, sell. jcpenney. if you thought things couldn't get worse for jcpenney under the ceo, well, you were very wrong. as the company missed estimates once again on friday, reporting absolutely hideous numbers, they were blinding. sure enough, penney's continued the decline today, down another $2.67, 13%. like the wheel of fortune, where she stops, nobody knows. far more important, just so you know, there is a piece of preferred, there is another corporate piece of paper affiliated with jcpenney and that is sinking like a stone. that is more valuable to tell how bad things at jcpenney are. johnson tried to revolutionize by getting rid of coupons, cutting price as cross the board, they failed tragically and they started issuing coupons again. customers don't trust them. jc
concern for the social welfare and environment with growth. political analysts say incorporating it into the party's plat tomorrow will put hu on par with previous leaders. we'll continue to update you on that as the details come in. >>> in other news, opposition troops in the syria are setting their sights on key targets in the capital damascus. rebels say they fired mortars at president bashar al assad's palace. state-run media contradicted the rebels' account. it said opposition troops fired on residential areas in what it calls a terrorist attack. it said at least three people were killed. a day earlier, rebels set off a car bomb near the presidential palace. at least 11 people, including pro-government militiamen, died. opposition forces are reportedly bringing in fighters from other parts of syria to focus on damascus. human rights active uses say fighting around the country killed more than 200 people on tuesday alone. >>> an earthquake has struck the central american country of guatemala. at least 30 people are reported to have died. analysts with the u.s. geological surv
sustainable development, which takes into account social welfare and the environment, making this concept a guiding principle would be part of hu's legacy. it would give him the same status as leaders past including dung zhao ming and deng xiaoping. and it will help him maintain influence within the party after he steps down. hu also advocates during his speech that china's wealth gap is wide and widening, and he said that the communist party would continue its effort o fight corruption. >> translator: all those who violate party discipline and state laws, whoever they are, and whatever power or official positions they have, must be brought to justice without mercy. >> in some ways, president hu spoke directly to citizens who are fed up with corruption. the party is trying to keep a lead on anti-government movements by addressing public frustration. >> reporter: mitchitaka, what kind of changes are we going to see with the communist party's political bureau and the standing of the community? >> after the congress closes next wednesday, president hu would hand over the post of general secr
in as regional environment but also globally. china needs stability in order to promote economic policies. >> thank you very much for coming in to talk with us. >> you are welcome. >> we will also have a look at the politically sensitive topic of rich and poor in china, a gap that has widened over the past 10 years, coming a little bit later in the program. moving on to syria -- "i am not a puppet, and i will live and die in syria," defiant words from syria's president. >> in an interview with the satellite broadcaster of russia today, assad about offers of safe passage to another country in exchange for leaving power. >> he warned that foreign intervention in syria would have a domino impact around the world. we begin with the latest. >> here is where the first protests of assad took place. this video claims to show the result of a government air strike on the city's great mosque. meanwhile, rebels say they have taken one of the two remaining government-controlled posts along the turkish border. in a rare interview, bashar al- assad was defiant. speaking to russian television, he ruled o
because we cannot supply them with natural gas. instead of russia. in this environment subsidizing wind and solar makes no sense. refi china and india and other emerging economies would sign nine so to reduce emissions i don't take a position nine whether man-made emissions cause global warming and i it china and india to make up 37% of the population not doing so. and the first chapter the book i talk about geo engineering solutions win to think we could reduce global temperatures by just came roofs white to reflect the race. what we're doing with a 12 billion-dollar hours it is pushing people into cars they do not want to buy raising your much as a cost we are getting rid of incandescent light bulbs and disproportionately those zero least able to afford it the lowest fifth of and come distribution spend 24 percent of income on electricity natural-gas and gasoline. that's right. spending on energy and compared to an average of 7%. it it is just strange well-intentioned people who purport to represent advocates policies that will do them harm rather than a good british edition to hurric
. >>> environment 58 researchers from southeast asia are sounding the alarm over marine pollution. they gathered in jakarta to share their research into the state of local seas. the indonesian government organized the seminar with the japan sociy fo the pmoti of science. about 150 people attended. japanese researchers say they found plastic garbage last year in the stomach of a seal of indones indonesia's island. they say the garbage can easily accumulate on the deep sea floor as currents are weak. some researchers say they found metals in the seabed in the manila bay and others reported finding chemicals in the java sea much indonesia. >>> emerging economic powers stilltruggling with poverty. emboldened citizens demanding democracy, the threat of violence, the push for peace, the shadow of conflict. get news and insight on south and southeast asia every weekday live from bangkok, only on nhk world "newsline". >>> the mayor of an island in the east china sea is trying to diffuse a dispute over fishing rights. he is visiting taiwan to talk about access to waters off the senkaku islands. he admini
action on issues such as jobs, social security, and corruption. >> translator: in the new environment, our party faces many tough challenges. there are numerous pressing problems within the party and senior ranks that need to be resolved, especially corruption and the acceptance of bribes. >> reporter: xi jinping is taking over the position of general secretary from hu jintao. he will lead the political bureau standing committee, china's main decision-making body. the number of seats on the committee has been reduced to seven from nine. analysts say the party made the change to speed up the decision-making process. xi jinping and another top official, li keqiang, have been on the standing committee since 2007. the rest of the members are new. xi introduced them all during his speech. [ applause ] >> li keqiang. comrade zhang dejiang. comrade liu yunshan. comra comrade yu zhengsheng. and comrade zhang gaoli. >> reporter: the majority of officials on the standing committee are allies of former president jiang zemin, who retired from politics nearly a decade ago. they face a number of ch
air strikes. and it has been a problem since this administration helped create the environment in north africa. and in the middle east, with those who want to see israel destroyed could take power. more violence has occurred. not less. more people's lives are in danger, not less. there's less freedom of worship, not more. the things that we believe in, freedom of worship of all people, or no worship if people choose not to worship, those kind of things should be kept. and yet, we are seeing this administration took over afghanistan, more americans die and about half the time under commander-in-chief obama has died in seven years than president bush. american military. over 70% of those killed in afghanistan have been under commander obama and about half the time. we have seen violence escalating against americans in afghanistan. we have seen the last christian church, public christian church pull out of afghanistan. this administration should be encouraging freedom of worship, encouraging the liberation of women, of children. and yet, for all its help, it has created environmen
to return profits in 2013, but high fuel costs and a poor economic environment continued to weigh on profits. air berlin is not alone in going through some turbulence. this is not a great time for europe's airlines. >> many are struggling to stay in business. here's a look at the litany of problems they face. >> scandinavian airline sas is fighting for survival. the carrier has not turned a profit in five years. it is not alone. just last week, spain's flagship carrier said it would cut nearly a quarter of its work force in an effort to remain competitive. sas alone plans to cut more than 1/3 of its 15,000 employees. air france is looking to reduce staff to 45,000 workers. and germany's lufthansa is also in the midst of a painful cost- cutting program. earlier this week, the airline struck a deal with unions to raise cabin crew pay in exchange for no strikes over the christmas holidays. >> coming up, we've got some sports news for you. >> first, some other stories making news around the world. three demonstrators have vented their anger at a german consul. he was heading for a meeting with l
welfare and environment, making this concept a guiding principle would be part of hu's legacy. it would give him the same status as leaders past, inclu including dan xioping, and it would help him maintain influence within the party after he steps down. he also admitted during his speech china's gap is wide and widening, and he said the communist party would continue its effort to fight corruption. >> translator: all those who violate party discipline and state laws, whoever they are and whatever power or official positions they have must brought to justice without mercy. >> reporter: in some ways, president hu spoke directly to citizens who are fed up with corruption. the party is trying to keep a lead of government movements by addressing public frustration. >> michitaka, what kind of changes are we going to see with the community party's political bureau and its inner leadership, the politburo's standing committee? >> reporter: right. after the congress closes next wednesday, president hu would hand over the post of general secretary to vice president xi jinping, for a younger genera
. >> translator: in the new environment, our party faces many tough challenges. there are numerous pressing problems within the party and senior ranks that need to be resolved, especially corruption and the acceptance of bribes. >> reporter: xi jinping is taking over the position of general secretary from hu jintao. he will lead the politburo's standing committee, china's main decision-making body. the number of seats on the committee has been reduced to seven from nine. analysts say the party made the change to speed up the decision-making process. xi jinping and another top official, li keqiang, have been on the standing committee since 2007. the rest of the members are new. xi introduced them all during his speech. >> zhang dejiang. yu zhengsheng. liu yunshan. wang qishan. zhang gaoli. >> reporter: the majority of officials on the standing committee are allies of former president who retired from politics nearly a decade ago. they face a number of challenges. one is wrapping up china's slowing economic engine. another is addressing growing social discontent over the widening wealth gap a
a particular worldview and a set of assumptions and values that increasingly in a polarized environment makes it difficult for them to vote for scott brown and linda lingle and heather wilson. the problems with republicans is that they're based -- that's a very ideologically driven voters, tea party folks, but part of the republican base is more open, friendly, to voting for democrats than the democratic base is for voting for republicans, i believe. i'm sure we could chew this over. let me give you an example. but me give you an example. heidi is a terrific candidate in north olympic terrific candidate and north dakota. mitt romney won north dakota by 20, 21 points. and heidi was able to overcome that. it's true that she won them as the president one north dakota, slightly less than president, that mr. romney one north dakota slightly less than the president one massachusetts. but i think the republican coalition includes kind of a soft swing voter that is inclined to vote republican, but is more willing to vote for democrats. and, jim matheson surviving utah is amazing. amazing. john barrow
is the contributing environment that is lending itself. a lot of the police officers have to be at a certain rank and have to be kept on the contract as a source of the sort of securing full time to permanent status with protection. this is one of the conditions that actually makes it much easier on superiors and senior members of the security establishment to basically pressure them into taking questionable activities. if you don't pull the trigger then i will endure contract by the end of this year because you are in a contract you are basically not protected. i would -- you know, i would question the assumption that the securities sector reform is necessarily aimed at, you know, disempowering are dismantling the securities sector, and i would actually say that there are a lot of measures, a lot of proposals in the case of egypt that would strengthen the status of the living conditions and the working conditions of the egyptian police. >> we think that this idea of the reform versus strengthening. when we talk about strengthening, are we talking about more weapons, more capabilities that they c
or anything but we all know him and he was worried about the regulatory environment that we're going to see in the future, and his thought was that with the people that would be put in place, like-minded people put in place over the next four years it will take 25 before it's gone. i go well we'll both be dead by then. i hope not, but in all likelihood before this reverses, then i went to the liquor cabinet again, and anyway. could it be 25 years before we reverse some of the regulatory? >> i haven't thought out that far but -- >> you're still young. you might be alive. >> perhaps. >> dodd-frank only a third of the rules for dodd-frank have been implemented. >> talk about which ones are coming back. >> we've only just begun. >> which is why the financials sold off yesterday. >>> if you have comments, questions, anything you see on squawk, shoot us an e-mail squawk@cnbc.com, and follow us on twitter. >>> power in the nation, which companies are best equipped to keep your lights on? >>> later, athenahealth jonathan bush, the younger cousin -- anyway, we'll talk about the election results and
" cramer gave you ideas for keeping your portfolio airborne in this environment. what sky high advice is he about to give right now? jim's mad dash is coming up next and romney for president policy adviser lanhee chen. take a look at futures as we start into the open bouncing off three month lows. "squawk on the street" continues right after this. i always wait until the last minute. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. >> jim and his mad dash talking. this week is a watershed week for nat gas in general. >> cold in new york. 28 degrees. that often can burn off the inventory. clean energy fuels had them on last night. why focus on this? they have a clear growth path to build out stations. lloyd blankfein said in his editorial that key thing for growth in our country is energy. abundant energy. i thought we should look at clean energy that would benefit. markwest, this is a company that has a price above where they d
in this environment. carl, back to you. >> wednesday is the day when they name the new partners at goldman, i believe. >> that's right. >> people waiting for the call. >> people close to or a source close to goldman sachs says it will be the smallest class in over a decade. probably less than 70 will be named partners at goldman sachs this year. back to you. >> thank you so much. mary thompson at headquarters. a big mover in drilling and natural gas space. >> weatherford this morning off 12% at 3.5 year low. the company warning that fourth quarter is going to come in for earnings below consensus on that number. and they also said that they still have not been able to resolve what they call material weakness in internal controls over financial reporting. they actually didn't break out their third quarter numbers. stock getting hit hard on a day when energy is already to the downside. >> motor trend magazine naming tesla's sedan the car of the year. will the model live up to the hype? we'll find out when tesla ceo elon musk joins us. >> just seven short weeks left to hopefully do a deal on the fiscal c
, abt, the kind of stock you need in this environment. robert in new york. robert? >> boo-yah, jim. how we doing today? >> not a bad day at the office. how about you? >> i'm doing pretty good. long time listener, action alerts member. >> thank you. >> my question, so president obama being re-elected and the drug patent cliffs as backdrop themes, i know you're playing abbott lab and bristol-myers. >> yes, you read it from the trust, thank you. >> yep. i went after an old favorite which is down at the bottom, teva pharmaceuticals. i want your view on 2013. >> let me give you a weird good news about teva. they reported a quarter i didn't think was great and the stock didn't go down. i wanted this stock to bottom for some time. i was using one of their products the other day. they are the greatest generic. people are worried about the ms drug. i think the risk is taken out of the stock. i have to tell you, robert, i don't know about the worries. so you know i think it's inexpensive. i just don't have a catalyst. i'm sorry. let's go to john in texas. john? >> blue sky boo-yah, jim. >> i like
. what is different about this environment is that the bush tax rate will expire. we will revert to the rates under clinton for everyone unless president obama signed an extension. after this campaign, that would be pretty shocking. he ran explicitly but as a candidate to say that he will raise taxes on the top. unless he suddenly decides that, i didn't mean it, it does not really matter all that much what house speaker thinks. the tax cut will expire unless obama is willing to extend it. that changes the whole dynamic. virtually all of the republicans have decided the broker norquist pledged not to raise tax rates. if the tax cuts expire at the end of the year and then in january you extended for 97% of americans, the new never voted to raise tax rates. your only cutting taxes. it is possible for something like that -- when the speaker said that yesterday, it was not really reflecting the world that he now lives in. unless the president is willing to extend the tax cuts, they will not be extended. >> i have a question for you. to what extent will there be a major -- and the repu
not to destroy the world's environment, which they will do if other things being equal. and so we want to work with them on avoiding environmental just destruction. we want them to continue bringing people from rural poverty to sort of urban working classness, which is what they've been doing. we want them to grow up in both international and domestic ways. grow up internationally in having a foreign policy that's not just whatever's good for them commercially, which is what their foreign policy is now. and to say, "okay, you have to play a role in iran and syria or whatever, being responsible." domestically, we want them to gain confidence so they don't have to have their foot on their people's neck. most of the time in china you don't know the government's around. just kind of a sort of state of chaos -- >> really? >> and, yeah. >> i mean, not like russia, the soviet union -- >> oh, it's -- >> not that blanket -- >> entirely different. it's most of the time the areas the government cares about, the internet, democratic protest or whatever, taiwan, tibet, they're all over. when it doesn't inv
% in a zero interest rate environment. we all knew it was going to be a slow economy. we all knew the market was going to grow slow. the bottom line is even with the decline in the last eight days, we're still up 6.5%, 7%. >> you're saying to buy into this selloff? >> i think you have to buy into it. where are you going to put your money? most of the money is going into fixed income. that's just crazy. we know future interest rates are going to go higher. that's not going to hurt corporations. it's not going to hurt profits, but what it is going to do is hurt the individual investor. they should be in equities. when you look at the dividend plays out there, it's crazy not to be. >> boy, when it comes to the markets, michael, you could not have a more different point of view, could you? >> we have about 30% cash. i took out another about 20%. we're about 50% today in cash. i don't think the fiscal cliff is going to happen. i think they're going to punt. i don't think anybody in washington, d.c. has the meatballs or spaghetti to care about cutting our debt and deficits. you know, the only thin
the atmosphere that we are facing and the environment that we are going to face in january? >> first thing i would remind them is to expect the up expected. a couple of years ago, we were all stunned when president obama signed into law the tax relief act that extended bush tax cuts and increased transfer tax exemptions to historic levels. we are now looking at something very different and we need to prepare for taxes rising, but also, take advantage of certain opportunities today. as you say, we have got about six weeks left to get it done. >> let talk about some of those advantages, because it's such a scary story really. >> yes. >> if you've had a decent year in the market and you have some gapes, a lot of people are talking about apple, for instance, there's some thought that maybe if you have a pretty decent gape in apple, do you take those profits this year? do you accelerate your income at this point? >> well, think about what's happening to capital gapes tax rates. we are at 15% today, slated to go up to 20% in january, plus you have the specter of the new medicare tax, which now we
environment makes it difficult for them to vote for scott brown and heather wilson. the problems -- the problem with the republicans -- they have some very ideologically driven voters, but part of the republican base is more open to voting for democrats than the democratic base is to vote for republicans, i believe. that even example. heidi is a terrific candidate in north dakota. mitt romney one north dakota by 21. and i was able to overcome that. it is true that she -- that the president one north dakota slightly less than -- at mitt romney 1 north dakota at slightly less than the president's won massachusetts. but the republican coalition includes kind of a soft swing voter that is inclined to vote republican, but as more willing to vote for democrats. john barrow in georgia, the republican candidate was horrendous. a challenger refused to debate the incumbent. [laughter] i didn't say it was a bad decision, i just said it says something about the challenger. i think this is an additional problem. it is easier for moderate, centrist democrats to feel the republican voters than
in this environment? >> reallylar bks. because with all the costs of kline's, you have to get to a certain economy of scale. we have 7,000 banks, many of these banks would not be around in two or three years. >> tom: because of failure or because they will be bought out? >> well, because of not being able to have the economies of scale to manage these compliance cost. you just have to have too many people. and only a bank of a certain size, shape, 500 million, at least a billion dollars. and so many of our banks are under that size, economies of scale. >> tom: that say big sized bank there we've got with independent bank list tonight, kenneth tmas. >> tom: republicans are still reeling from tuesday's loss in the presidential election. it was the fifth out the past six presidential elections where the republican party has lost the popular vote. republicans may have kept control of the house this time around, but they lost seats in the senate. many strategists say the results suggest it's time for the party to rethink how it sells its economic message. sylvia hall reports. >> reporter: tuesday was a
at a normal interest rate, i'm a guy that wants to go 50/50 bond equities, are you saying in this environment i should be 75 equities, 25 bonds because of the risk? >> yeah, i think the problem is nobody is 50/50. today people are sitting at 80% this bonds. 10% quit tis and a little bit of cash. here's the big issue. americans need to retire. 75% of them have already said they don't have enough money. 40% said they'll never have enough money. so they're funding their lon term liability which is retirement 15 years, on average 58 years old, and they're funding it with a security that's at the end of its peak cycle. so usual getting zero rate of return and you're saying i'll fund the liability by an investment that i'm guaranteed to lose money in. the world is more complicated. it's not 50 stock and 50 bond. so you have to say i need to start to move into a more balanced portfolio. the big problem people have is they think it's a binary switch. i go from stocks to bonds. maybe risky people and speculate tors do that. but it means i need to start to lessen my bond position, because more balanced
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